Jul 12, 2024
Positive momentum keeps building for CCUS
As we are wrapping up two weeks of conference on the future of carbon capture, first at Decarb Connect EU in Berlin on June 17-19th, before moving to the Carbon Capture and Storage Association Europe conference in Brussels on July 3rd, we would like to share some key takeaways from the panels and audience with you:
CCUS is now considered a reality and in rapid expansion by participants. If you were still unsure, now is a good time to jump on board.
The key bottlenecks are on the transport and storage infrastructure side. On that topic, we welcome the Net Zero Industry Act (NZIA) setting a binding carbon storage target of 50 Mt CO2/year in the EU by 2030. That excludes rapid developments in the UK, Norway and Iceland. The German Carbon Management Strategy was also welcomed and discussed.
There is a strong demand from industry for regulation clarity and public funding to kickstart the industry. CCUS projects are notoriously expensive. Expect renewed discussions with the new EU Commission triggered by the Antwerp Declaration for a European Industrial Deal.
Partnerships, partnerships, partnerships. In case it was not clear yet, Carbonway is one of those partners, no matter which part of the CCUS supply chain you come from.